This is no Rubicon

First, i want to say no one on this board wants this to turn out good, anymore than me. And I want to say that FC has done a remarkable job of compiling what hopefully will be the next world class mining district. However, he also has made a lot of mistakes, to just cover a few. He chose a QP person to do a very important 43-101 that had his previous 43-101 for Rubicon found not compliant by BCSC. Then after getting what was apparently premilimary information on the BGM 43-101 (which is not supposed to happen) it seems like the info leaked out and there was a lot of buying in June substantially raising stock price.

FC then compiles a press release that was very very detailed including bench charts and appeared to be numbers taken directly from a 43-101 that showed a huge amount of indicated high grade gold and also huge potential numbers. It got everyone's attention as it appeared the next world class gold project had been found and many bought on the news. The BCSC then asks to see the 43-101 that these fantastic detailed numbers came from and FC has to tell them, "Sorry it is still incomplete???????" Talk about putting yourself on BCSC radar! The incomplete 43-101 was not complete until the 45th day after the P/R. Then that 43-101 came no where near the detailed numbers in the press release. So that was violation #1, your press release must match your 43-101 (Rubicon did not do this).

Viiolation #2 came when BCSC reviewed the 43-101 and said it was done improperly and thus non-compliant. So we were led to believe that PG could quickly redo the 43-101 and make it compliant as PG did for Rubicon. But BGM still would have to address violation #1 with BCSC as many (including me) bought the stock on the big news. We were told back in Aug that it would not take long to redo the 43-101. Then at some point, we are told that a complete new 43-101 is being done (this did not happen with Rubicon). We were later told that Snowden is being engaged to "audit" PG's report (this did not happen with Rubicon). Now we have an old school very experienced Geologist working with a new school consulting team, this may never work out and I question why not just have retained Snowden to do the 2nd 43-101? Now to add more problems, this has passed the 90 limit day and many more hoops must be jumped through to be reinstated to TSX.v. All of the extra steps needed to be reinstated have been posted here and there are many and Rubicon did not have to worry about all of the now added red tape and detailed auditing that being reinstated requires. This is not just a case of simply producing a new compliant 43-101..... BGM has 2 other serious issues to deal with thus added time and frustration.

Lastly, I think FC made a mistake charging 20%, he clearly made millions last year from BGM through salary, consulting fees, expense accounts and various inside deals as shown in the related transaction report, he and his drilling company are owed $750,000 by GCC and I would not be surprised if their PP severely diluting those shareholders will be used to pay FC. If BGM pays off big as most of us hope, FC could make in excess of $100 mil for his stock in his various companies. So the difference in 20% or 10% is peanuts to him, so why charge it and have it in the press release and just look very greedy especially since many of his mistakes caused this. No one would have questioned 10% as they have paid that before.

If this turns our well, we all will want to give FC a high 5....if it turns out bad, FC will be the target of many lawsuits, for everyone's benefit (but the shorts) let's hope it is a high 5.